We are told spring and summer are the best months to purchase a house, according to conventional wisdom. We might be missing out on the best season of all, now that the sun is shining, the gardens are in bloom, and “For Sale” signs start appearing on front lawns…
When the temperature drops, so do listing prices, making it the perfect time to snag a real estate deal. People are less enthusiastic about packing up all their worldly possessions in subzero temperatures, so wintertime sellers are more willing to reduce listing prices so that they can close as quickly as possible.
It is no secret that bidding wars have become a part of purchasing a property in Canada’s urban centers, because of the competitive real estate market. You’ll have more time to consider your offer without the hordes of similarly situated people vying for the same property during the winter months because fewer buyers stomp on the icy pavement.
A seller who lists during winter is clearly motivated to move since real estate fetches its highest price in early summer. Perhaps they have a job offer in another city or inherited the property and no longer wish to maintain it. Consequently, they are more willing to negotiate terms – closing costs, selling prices, and closing dates are all open to negotiation.
As many sellers wait until spring to list their property, there will be less inventory during the darker months. This means you’ll have fewer options for the property, but you’ll also find what you’re looking for – with less competition. Read more about what you need to know before you buy land.
Over the winter, your real estate agent will have your undivided attention since fewer listings and sales occur. Spring can be busy for agents, so take advantage of their seasonal slump to prioritize your house hunt. Use these marketing techniques when hiring a real estate agent.
As homes look their best under warm sunlight rather than ice, sales spike in the spring and summer. In winter, leaky roofs, busted gutters, and broken boilers make themselves known. If you see a house at its worst, you can negotiate a better price and get an idea of what to expect. Learn how to fix a leaking faucet (as well as 10 other quick fixes).
Now is the perfect time to shop for the best mortgage rate possible. A mortgage broker can provide you with insights into the current financial climate, helping you avoid paying too much for a loan later. During winter, when there are far fewer properties and buyers, it’s easier to land favorable deals, so skip the hectic selling seasons of spring and take advantage of low supply and demand now. Don’t risk missing out – find you’re forever home today!
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